Developer of Proposed Downtown Everett Hotel Asks For 9th Extension

At Wednesday night’s Everett City Council Meeting, Touchstone Corporation, the developers behind the proposed Courtyard by Marriott Hotel at Colby and Wall street asked for another extension on their development permit for an eight story 156 room hotel. Back in August, Touchstone asked for a delay until February 16th of this year to arrange financing. Joe Polito, development manager for Touchstone explained to the Everett City Council that they were still 4.7 million dollars short on their equity funding. The company is asking for an extension to November 12th to begin construction. After the meeting, Polito said, “Marriott is committed to downtown Everett. We’ve committed 2 million dollars to the project and I’m certain construction will begin this year.” Once construction starts it will take between 16 – 18 months to complete. The Everett City Council still has to take a vote to approve the extension.